Gold

OceanaGold Corp. (TSX:OGC,ASX:OGC) put out its financial and operational results for the third quarter of 2015, as well as for the first nine months of the year.

OceanaGold Corp. (TSX:OGC,ASX:OGC) put out its financial and operational results for the third quarter of 2015, as well as for the first nine months of the year.
The company produced 297,663 ounces of gold and 17,518 tonnes of copper during 2015’s first nine months; that includes 120,664 ounces of gold and 5,219 tonnes of copper in Q3.
Other highlights include:

  • Recorded All-In Sustaining Costs(1) of $708 per ounce and cash costs(1) of $465 per ounce on sales of 276,104 ounces of gold(1) and 17,167 tonnes of copper in the first nine months of the year.
  • Reported revenue of $364.4 million and net profit of $30.4 million for the first nine months of 2015 including revenue of $109.6 million and a net profit of $6.9 million in the third quarter.
  • Completed the acquisition of Romarco Minerals Inc. on October 1, 2015 and welcomed Diane Garrett to the Board of Directors.
  • Received regulatory approval from the New Zealand Overseas Investment Office to acquire the Waihi Gold Mine from Newmont Mining; legal close expected on October 30, 2015.
  • Commenced drilling at Paco tenements in the Philippines during the quarter and continued to receive encouraging results from drilling near Didipio.
  • Commenced drilling at Haile and regional targets in the United States post acquisition, subsequent to the quarter end.
  • Completed the construction of the Didipio power grid connection, commissioning underway.

(1) Includes attributable production from Waihi. OceanaGold began accruing the economic benefit from Waihi effective July 1, 2015. Upon legal close of the acquisition with Newmont mining, which is expected on October 30, 2015 this benefit will be reported on the OceanaGold financial statements.

Click here to read the full OceanaGold Corp. (TSX:OGC,ASX:OGC) press release.

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